Understanding and finding affordable life insurance can be a juggernaut. When looking at all the types of insurance that are available, life insurance is probably the least appealing to discuss. No one likes to think about their mortality, but having a plan for your loved ones if you die can give both you and your family peace of mind.
As a diabetic, you may feel that you are finding the best life insurance. prices are excluded. Trust me finding affordable life insurance companies is not impossible.
It is possible to qualify for good and in some cases the best prices for life insurance with diabetes.
Since each life insurance company has a different set of guidelines for insurance, it can be overwhelming to try to prepare for a life insurance application. We can help you find the right life insurance for your medical history and overall budget.
What is diabetes?
Every time you eat, your body converts food into glucose or sugar, as fuel for your body. The only way this process works is through a hormone called insulin. If your body cannot produce this hormone, your body cannot make the conversion and your sugar levels build up in your blood.
There are three main types of diabetes. Let's quickly go through the three types before we dive into finding the best diabetes health insurance:
This type of diabetes usually occurs only during pregnancy. With all the hormonal changes that change during pregnancy, the body cannot process insulin, which causes the blood sugar level to rise. Because this type of diabetes is resolved after the baby is delivered, each insurance company handles this category differently.
Existing health conditions?
AIG Direct specializes in insuring people just like you. From high blood pressure to diabetes, AIG Direct has seen everything and because they have access to several companies, they can find the absolute lowest prices! Click below to see if you qualify.
Quotes are fast, easy, and free!
Type 1 diabetes
Known as juvenile diabetes, this type is commonly detected in children and young adolescents. In this case, the pancreas is completely unable to produce insulin. To keep your blood sugar levels in safe range, a type 1 diabetic typically relies on an insulin pump or injection to administer what the body cannot produce. Life insurance policyholders usually look at type 1 differently than all other types of diabetes because of its early diagnosis.
Type 2 diabetes
This type of diabetes occurs later in life when the body can produce insulin, but not enough to keep blood sugar levels down to a healthy level. Type 2 diabetics make up about 90% of all diabetic patients.
According to the CDC, 34.2 million people will have diabetes by 2020 (approximately 10.5% of the US population). The American Diabetes Association says 30 million people in the United States have been diagnosed, while 84 million Americans have been diagnosed with diabetes.
- 9 million adults and children have been diagnosed with diabetes, leaving 7.3 million as undiagnosed diabetics in the United States.
- 2% of diabetics fall into category 1 type diabetes, which corresponds to about 1.6 million people.
- 5 million Americans, 18 years and older, were diagnosed with diabetes 2018–210,000 of these cases, children and adolescents younger than age 20 years.
- A total of 88 million adults (18 years and older) are prediabetic (34.5% of the American adult population). Of the 88 million, adults aged 65 and older claim over 24.2%.
Depending on which insurance options you choose, whole life insurance, life insurance or no life insurance, to name a few, understands that EVERY life insurance company has a different set of guidelines for insurance when awarding a diabetic insurance policy.
RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance
Diabetes is a major risk factor for serious health conditions such as stroke, heart disease, kidney disease or heart attack. As it is considered high risk, life insurance companies will need a complete and in-depth look at your current medical history, medical records and family history to assign a better tax rate for your specific type of insurance.
Can You Find Affordable Life Insurance for Diabetics?
As someone who specializes in finding affordable coverage for clients with a difficult medical history, I am often contacted by diabetics who are looking for a good deal.
As I am an independent life insurance agent, I can shop around several carriers to find the cheapest life insurance quote from some of the best life insurance companies.
Here are some recent offers I found:
- 64 year old male 5 ′ 10, 235 pounds, non-smoker, 4 years since diagnosis.
- On antihypertensive drugs and cholesterol, on two diabetes medications and taking 1 insulin injection per day.
- Recently a1c was 6.9.
- RBC / Liberty Life offered standard non-tobacco .
- 69 year old male 5′10, 213 pounds, non-smoker, 6 years since diagnosis.
- Only on 1 with Glucophage, for diabetes, it also with diet and exercises 3 times a week.
- Latest a1c was 7.2.
- ING / Reliastar's offer was standard non-tobacco with 2 tables .
One of my insurance companies will give their preferred best rating if your average a1c level for the past year is 6.5 or lower along with the level of your Laboratories
However, there are other variables here, but you can see if some companies will possibly give their best rating, there is definitely affordable life insurance for diabetics.